Humber/Ontario Real Estate Course 1 Exam Practice

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Prepare for the Humber/Ontario Real Estate Course 1 Exam with tailored quizzes and study materials. Test your knowledge with multiple-choice questions designed to help you excel in your real estate career. Get ready to pass your exam with confidence!

Each practice test/flash card set has 50 randomly selected questions from a bank of over 500. You'll get a new set of questions each time!

Practice this question and more.

If an offer expires and no acceptance is communicated, what happens to the offer?

It can be renewed automatically
It remains valid indefinitely
The offer becomes null and void
It must be returned to the issuing party

The correct answer is: The offer becomes null and void

When an offer expires and there is no acceptance communicated, it becomes null and void. This means that the offer is no longer valid or enforceable, and the parties are released from any obligations regarding that offer. The expiration of the offer signifies that the opportunity to accept it has passed, and therefore, it cannot be acted upon any longer. In real estate transactions or any contractual agreements, time limits for offers are crucial. Once an offer has expired, it does not have any legal standing, which is why it cannot be renewed automatically or remain valid indefinitely. The offer’s nullification ensures clarity between the parties involved, allowing them to either negotiate a new offer or pursue different options.